HOPE BANCORP (BBCN) has reported 77.66 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $40.63 million, or $0.30 a share in the quarter, compared with $22.87 million, or $0.29 a share for the same period last year.     

Revenue during the quarter surged 72.91 percent to $134.60 million from $77.84 million in the previous year period. Net interest income for the quarter rose 63.32 percent over the prior year period to $117.21 million. Non-interest income for the quarter rose 65.73 percent over the last year period to $18.19 million.

HOPE BANCORP has made provision of $0.80 million for loan losses during the quarter, down 83.67 percent from $4.90 million in the same period last year.

Net interest margin contracted 13 basis points to 3.75 percent in the quarter from 3.88 percent in the last year period. Efficiency ratio for the quarter deteriorated to 49.28 percent from 47.06 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

"2016 was certainly a monumental year for our organization with the formation of the only super regional Korean-American bank in the United States and one that cannot be replicated by our niche peers in terms of size or market presence," said Kevin S. Kim, president and chief executive officer of Hope Bancorp, Inc. “We continue to make solid progress with the integration, having successfully completed the systems conversion and the first phase of branch consolidations during the fourth quarter. With these achievements behind us, we are well on track to achieve the anticipated cost saves from our merger and expect the benefits to be progressively evident in our financial results going forward. While loan originations were lighter than expected for the fourth quarter, we are in the final stage of a transitional period of combining two strong lending forces, which remains intact, and believe we are well positioned to deliver the synergies from the merger.

Investments stood at $1,556.74 million as on Dec. 31, 2016, up 54.05 percent or $546.18 million from year-ago. Shareholders equity stood at $1,856.89 million as on Dec. 31, 2016, up 97.94 percent or $918.80 million from year-ago.

Return on assets moved up 1 basis points to 1.20 percent in the quarter from 1.19 percent in the last year period. At the same time, return on equity decreased 104 basis points to 8.72 percent in the quarter from 9.76 percent in the last year period. At the same time, return on average equity increased 74 basis points to 11.77 percent in the quarter from 11.03 percent in the last year period.

Nonperforming assets moved up 0.95 percent or $1.05 million to $111.24 million on Dec. 31, 2016 from $110.20 million on Dec. 31, 2015. Meanwhile, nonperforming assets to total assets was 0.83 percent in the quarter, down from 1.39 percent in the last year period.

Tier-1 leverage ratio stood at 11.49 percent for the quarter, down from 11.53 percent for the previous year quarter. Book value per share was $13.73 for the quarter, up 16.45 percent or $1.94 compared to $11.79 for the same period last year.